I'm packing to leave Paris and it's a hard town to leave. Not only because I managed to catch a glimpse of a Paris sunset last night from the top of Notre Dame, but because I'm leaving LeWeb Paris 2014 while it's still in full swing. There's no denying LeWeb is one of the most invigorating events I've attended. Highlights in the first two days included a candid discussion on Uber with celebrity venture capitalist Fred Wilson and amazing comments from Web founder Tim Berners-Lee on everything from robots to net neutrality to Europe's "right to be forgottten" laws. Most invigorating for me personally was the day one session on wearables. LeWeb invited me to curate this hour-long track as part of its new format, tackling multiple themes in short bursts over several days. Curation required pulling together experts on the topic which was both simple and difficult. Simple because there are some great ones to choose from, difficult because I would have had 10 people on stage if I could have managed it. But that's where the hard task of curation comes in.
This research reminded us that "innovation agency" is a label that Forrester assigned to agencies with specific aptitudes. Most agencies don't have neatly packaged innovation offerings. But those we reviewed do offer strategy, change management, customer experience, and design and development services — capabilities that are core to enabling digital business innovation. Since CMOs may not find a standard blueprint for an innovation agency, this wave provides guidance as you review potential innovation agency partners.
In addition to the report, please make sure to download the interactive scorecard tool to build your custom wave and gain a more in depth look at each agency.
I’d like to extend a huge thank you to all of the agencies that participated. The teams that I worked with are all so talented and put in a lot of time and effort, which I appreciate.
A new pneumonia virus first infected a few people in China in November 2002. A scant seven months later, the virus known as SARS had infected more than 8,000 people in 26 countries and caused 774 deaths. The international medical community mobilized: Within one short month, it discovered the virus that caused SARS, completed its genetic sequencing, outlined its modes of transmission, and communicated guidance for managing the outbreak.
How did this happen so fast? The power of collaboration. A network of 11 laboratories in nine countries came together and collaborated to identify the cause of SARS and how best to combat it. They shared research in near real time, empowering each lab to build on the work of the others. Compare the success of this collaborative effort to the three years it took to discover that HIV led to AIDS as well as the slow movement to solve our current Ebola crisis. Clearly, collaboration when mobilized can have a huge, positive impact on the world in which we live, work, and play.
Now, just because CMOs and CIOs are not curing world hunger or an infectious disease, that does not mean they can choose to ignore the power of collaboration. In fact, as CMOs and CIOs, you too need to be collaboration superstars in order to prosper in the age of the customer.
Being asked to pitch for a new piece of business strikes both excitement and fear in the hearts of many agency folk. When I started research for my latest report, The Fit Test For Strong Agency Relationships, there was no shortage of people who wanted to weigh in on how to make the process better for both CMOs and agencies.
After many interesting and spirited conversations, I settled on the four things CMOs should screen for when selecting an agency to help drive their business forward in an increasingly competitive and real-time environment.
Check out my report (subscription required) for a how to guide to screen for:
Vision: Does they agency’s vision for the future of consumer behavior, technology and marketing align with yours?
Experience: Can the agency provide a fresh perspective to your acute business challenges?
Passion: What is the agency doing to create a culture where its employees are passionate about coming to work?
Process: Will the agency be able to enact change across your organization?
If you are interested in discussing your next agency search or how to get the most from your current agency relationships, please schedule an inquiry with me.
For as long as there have been children and travel, frustrated parents have been subjected to repeatedly hearing a simple, “Are we there yet?” In their innocence, children seem to understand that all journeys should lead to a final destination; with those journeys never reaching their destination quick enough.
In 2015, Forrester believes CMOs will step forward and take responsibility for turning the enterprise toward the customer, evolving their role into the engine that fuels customer-centric company growth. It’s time for CMOs to cultivate the trust, respect, and collaboration across the entire C-suite and use that influence to ask for the right to not only hold but also turn the keys to the customer.
My colleagues, James L. McQuivey, Moira Dorsey, Laura Ramos, Sarah Sikowitz, Tracy Stokes, and I therefore studied the landscape and expect CMOs to seize this new opportunity to both shape their personal success and accelerate the growth of their organizations in 2015. In particular, we predict that:
Having its root as an Igbo and YorubaNigerian proverb, “It takes a village” has come to mean that the responsibility for raising children is shared across the larger family and community. But it hasn’t stopped there. Hillary Clinton adopted this proverb as her own when she published a book on children and family values in 1995. And in May 2014, Pope Francis had a crowd of more than 300,000 school students outside the Vatican chant the saying over and over again.
This simple proverb has taken on an important meaning throughout the world, as it communicates the importance of community, cooperation, sharing, and bringing together the skills of many different parts of the community to produce the best result — the raising of a well-rounded child.
But at its core, “It takes a village” applies to more than just raising children.
In a business environment, “it takes a village” applies to how you find and then bring together the best resources to grow your business. Speaking at Salesforce Dreamforce 2014 this morning, Hillary Clinton shared her views of how organizations must do good while doing well by adopting the core values of innvation, fun and giving back to the "village" at large.
I admit it; I’m a sports junkie. And, this is usually one of my favorite times of the year — the first few weeks of the NFL season. But this year, it’s been more about how poorly the NFL is managing what happens off the field than it is the excitement of what’s happening on the field of play.
Somehow the NFL has forgotten what its carefully built brand stands for. It's forgotten that every experience fans have with its brand — including players’ behavior — makes a difference. And it's lost touch with what matters to its customer base.
With a serious case of misjudgment, the NFL missed the opportunity to have its brand set an example and agenda for the rest of the country to follow with a no-tolerance stand on domestic violence. Instead, the deplorable way it's handled the Ray Rice domestic violence incident as well as others that have since come to light has damaged the carefully crafted NFL brand image, reputation, and ultimately overall success of its $6 billion business. So what can CMOs learn from the NFL experience to avoid missteps and instead build a strong and resilient brand?
Read my new report “How To Build A Strong B2B Brand” (subscription required) to help you avoid the pitfalls the NFL fell into. Expanding on Tracy Stokes' work in our brand experience playbook, my new report applies Tracy’s work to the unique challenges B2B marketers face in building, growing, and managing customer-centric brand experiences.
Yesterday Microsoft announced it would acquire Mojang along with its massive Minecraft gaming franchise for $2.5 billion. By now we've all seen the coverage, including the gratuitous interviews with middle-schoolers about whether Microsoft is "cool" enough to own Minecraft. By and large, we think this is a good acquisition for Microsoft, and we said as much in our Quick Take, just published this afternoon, summarizing the acquisition, its benefits, and its challenges for Forrester clients. Go to the report to read the client-only details of our analysis: "Quick Take: Microsoft Mines Minecraft for the Future of Interactive Entertainment." As we explain in the report, there are specific challenges Microsoft will face that will determine whether this ends up being a sensible acquisition or a sensational one.
Beyond the detailed analysis of the report, it's worth exploring the long-term question of what that sensational outcome would look like. The difference turns on the question of whether Microsoft is ready to invest in the future of digital interactive entertainment. This is a subtle point that has been missed in most analysis of the acquisition. Most people insist on covering the purchase as a gaming industry event. Microsoft, the owner of the Xbox, buys Minecraft, a huge gaming franchise. But that low-level analysis misses a bigger picture that I sincerely hope Microsoft is actively aware of.
Since rising to prominence as a part of the C-suite back in the late 1990s, the role of the chief marketing officer (CMO) has never been as critical to the success of organizations as it is in today's customer-driven post-digital age. And CMOs are taking notice, stepping up to the leadership challenge as a full partner in the C-suite. As marketers indicated in our report on The Evolved CMO In 2014 (subscription required), their business leadership requires them to optimize the marketing organization they oversee. Forrester believes that as empowered customers take control of their relationship with brands, CMOs must optimize their teams by redefining their organization in the form of a marketing operating system (MOS).
An MOS-based structure transforms every facet of a marketing organization requiring CMOs to inspire their organizations to think and act differently. It’s up to you, the CMO, to establish the vision, define the new values, and model the behaviors you want from your team as you implement your MOS.